Chorus (OTCMKTS:CHRYY) Shares Gap Down - Here's What Happened

Key Points

• Chorus Ltd. shares gapped down significantly, opening at $25.43 after closing at $27.11, marking a decline of 6.2%.
• The company has announced a dividend of $0.8575, with a massive yield of 482.0%, to be paid on October 27th.
• Chorus operates in the fixed line communications sector in New Zealand, providing a range of services including phone, broadband, and data solutions.

Chorus Ltd. (OTCMKTS:CHRYY - )'s stock price gapped down before the market opened on Thursday . The stock had previously closed at $27.11, but opened at $25.43. Chorus shares last traded at $25.43, with a volume of 162 shares trading hands.

Chorus Stock Down 6.2%

The stock has a 50-day simple moving average of $27.40 and a 200-day simple moving average of $25.14. The company has a debt-to-equity ratio of 8.05, a quick ratio of 0.46 and a current ratio of 0.46.

Chorus Announces Dividend

The firm also recently announced a dividend, which will be paid on Monday, October 27th. Investors of record on Wednesday, September 17th will be issued a $0.8575 dividend. This represents a dividend yield of 482.0%. The ex-dividend date is Tuesday, September 16th.

Chorus Company Profile

Chorus Limited, together with its subsidiaries, engages in the provision of fixed line communications infrastructure services in New Zealand. It offers phone and broadband services for residential and business customers; data and voice services; and solutions for transport and infrastructure. The company also builds and maintains a network of fibre and copper cables, local telephone exchanges, and cabinets.

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